Benefits

Benefits to Balance Your Personal and Professional Lives

Segal offers a comprehensive benefits program for employees and their families. From medical coverage to profit sharing and from vacation days to tuition reimbursement, the company provides an array of benefit choices and services. These benefits can both address your health and retirement needs and help you meet the challenges in balancing the demands of work with your personal life.

The Company maintains a defined pension plan on your behalf. After three years of employment you are vested. When you retire, you will receive a retirement benefit equal to the sum of two components: a career compensation component and a cash balance component. The career compensation component is an annuity equal to 1% of each year’s eligible pay for the highest consecutive 30 years of service; the cash balance component is a hypothetical account balance converted to an annuity at retirement equal to 2% of each year’s eligible pay for up to 30 consecutive years of service.

Each pay period, the Company makes a matching contribution when you contribute to the 401(k) and/or Roth 401(k). The Company also makes a discretionary match contribution after year-end out of profits to eligible individual accounts. The Plan also has provision for catch-up and after-tax contributions.

Segal has a competitive exam program that supports study time and related expenses and rewards its actuarial employees for successfully completing exams. The company provides increases in base pay and bonus payments in accordance with the specific exam(s) passed and credentials earned.

Available after you have completed 15 and 25 years of service, a research and study leave allows you 8 weeks of fully-paid time off to learn more about our field and/or profession or to develop new business ideas. Up to $1,500 of approved expenses can be reimbursed.

If you retire with 10 or more years of service at or after age 55, the company provides benefits credits (based on length of service) that can be used to offset the cost of health care coverage for a retiree and, if applicable, dependents.

Our EAP is a network of services and trained professional that can help you with everyday life issues such as relationship and marital concerns, having a new baby information center, loss of a loved one, etc.

The company provides a $500 annual ($1,000 for housing) allowance to eligible employees that can be used to obtain (taxable) reimbursement of all or a portion of certain expenses. Eligible expenses include: